U.S. oil production growth forecast for 2018 raise by EIA
Petroleumworld 10 12 2017
The U.S. Energy Information Administration said on Wednesday it expects U.S. crude oil production in 2018 to rise by more than previously expected.
The agency forecast that 2018 crude oil output will rise by 680,000 barrels per day (bpd) to 9.92 million bpd. Last month, it expected a 590,000 bpd year-over-year increase to 9.84 million bpd.
For 2017, it forecast a rise of 380,000 bpd to 9.24 million bpd. Last month, it expected a 400,000 bpd increase to 9.25 million bpd, according to the EIA's monthly short-term energy outlook.
Meanwhile, the agency forecast that U.S. oil demand for 2017 is set to grow by 230,000 bpd compared with previous forecast of 350,000 bpd. For 2018, oil demand is expected to rise by 420,000 bpd vs 400,000 bpd previously.
Reporting by Catherine Ngai from Reuters.
reuters.com 10 11 2017
We invite all our readers to share with us
their views and comments about this article.
Write to firstname.lastname@example.org
By using this link, you agree to allow PW
to publish your comments on our letters page.
Any question or suggestions,
please write to: email@example.com
Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels